For your retirement to comfortably last the decades you can expect to live, you need to start saving now.

How much will you need to retire?

Well, in 2014, Matthew Illian, a member of the Investment Committee at Marotta Wealth Management, Inc., wrote that “Someone retiring now in 2014 with $1 million at age 65 can safely withdraw $43,600 a year. However, [because of inflation], today’s 20-year-olds will need over $7 million to have that same lifestyle when they retire. In 1970, they would only have needed $166,000 in retirement to have a similar purchasing power for the rest of their life.”

If that’s the the case, then a 25-year-old with a starting salary of $50,000 would have to save around 14.65 percent of their salary throughout their career. The problem with that scenario is that Illian determined this retirement figure if the average inflation rate over the next 45 years will be 4.5 percent. Currently, the inflation is around 1.4 percent and hasn’t been close to 4.5 percent since 2008.

That still doesn’t mean that millennials should only plan to retire with a million. As Robert Powell reports in USA Today “Older Millennials -- those born in the early 1980s -- will need about $1.8 million salted away to maintain their standard of living in retirement while younger millennials -- those born in the late 1990s -- will need upwards of $2.5 million.”

There are several reasons why millennials need this much money set aside. Read more: click image or title.

B. The article discusses specifically the steps to take if a millennial wants to save up at least $1 million. The amount suggested differs due to inflation now and the predicted inflation. Inflation has completely changed retirement. Meaning that millennials should plan to retire with more. Averaging putting away 14% of their career earnings. This is negative economic news in my opinion; people are having to put away more and more money.

C. I did not realize that people had to stow away so much of their earnings.

Talk about the new consumer values: transparency participation and collaboration. The LeWeb conference in London, which began with a theme of the "Collaborative Economy," should be a wake-up call to corporations, brands, and everyone in the advertising ecosystem. Your lives are about to change. The market has once again spoken, and if you think you've already been disrupted by social media, think again. You ain't seen nothing yet.

Loic Le Meur, LeWeb's cofounder, opened this year's event with a startling presentation on the Collaborative Economy, a new movement in which consumers, especially the highly coveted and targeted Millennials, have decided to share and rent rather than own things in a dramatic reversal of 50-year trends.

Y Combinator Demo Day took place today at the Computer History Museum in Mountain View, Calif. The room was packed with hundreds of investors, entrepreneurs and members of the press trying to find the next billion-dollar startup.

67 startups gave 2.5-minute presentations. Here is the first batch of rapid-fire pitches that stood out:

BatteryOS: "You’ve never actually charged a battery to 100%," the founder explained to the audience. His logic: When a battery charges to near-completion, it begins to degrade. A black gunk begins to form in the battery, which eventually destroys it. BatteryOS says it's found a way to charge batteries all the way up without that residue forming. It claims that if Chevy Volt used its product, the car's battery would last eight years longer.

"We can change every lithium ion battery on this earth and improve it," the founder said. His company has already signed a deal to ship 20,000 of its batteries.

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